#TradingMistakes101

One of the biggest mistakes in trading is letting emotions take over. Many traders fall into the trap of FOMO (fear of missing out) and buy assets that are rising quickly, only to see them fall. On the other hand, the fear of losing can lead to selling promising assets too soon.

Another critical mistake is the lack of a well-defined trading plan. Without a clear strategy, it's easy to make impulsive decisions. Not setting stop-loss limits or not adhering to them is fatal, as a single failed trade can wipe out significant gains. Additionally, excessive leverage amplifies both gains and losses, being a recipe for disaster if not managed carefully. Impatience and the pursuit of quick profits are also common traps that lead to poor decisions.